MedTech Innovations: 18% DSO Reduction & 60% Faster Financial Close
How a healthcare technology company automated their entire financial operations, reducing DSO by 18% and accelerating their monthly close cycle from 12 days to 5 days with zero headcount increase.
The Challenge
MedTech Innovations, a $75M healthcare technology company, was struggling with manual financial processes that were delaying their monthly close and impacting cash flow management.
Pain Points
- 12+ day monthly close cycle impacting reporting
- Manual invoice processing taking 3-4 days
- DSO at 47 days affecting cash flow
- Finance team working 60+ hours during close
Business Impact
The Solution
Khipu Labs implemented a comprehensive financial automation platform covering the entire order-to-cash and procure-to-pay processes with real-time reporting and compliance monitoring.
Invoice Processing Automation
Automated invoice capture, validation, coding, and approval workflows with NetSuite integration.
- OCR invoice data extraction
- Automated GL coding and routing
- Exception handling workflows
Accounts Receivable Automation
Automated collections workflows with customer communication and payment tracking.
- Automated payment reminders
- Dispute management workflows
- Cash application automation
Financial Reporting Automation
Automated financial close process with real-time reporting and variance analysis.
- Automated journal entries
- Real-time financial dashboards
- Variance analysis alerts
Compliance & Audit Trail
SOC 2 compliant audit trails and automated compliance reporting for healthcare regulations.
- Complete audit trail tracking
- HIPAA compliance monitoring
- Automated compliance reporting
Results & Impact
"The automation platform paid for itself in the first quarter. Our finance team can now focus on strategic analysis instead of manual data entry, and we're closing our books in 5 days instead of 12."
Financial Impact
Operational Improvements
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